Today we talk about how Real Estate will finish strong in 2020. What Realtors have been working on with buyers and sellers over the past 30 - 60 days will be completed by the end of the year. Anything that is signed (active contract) will close between November and December of 2020. Here are a couple of key quotes from Lawrence Young and Zillow:
Lawrence Yun, Chief Economist, National Association of Realtors
“Home sales continue to amaze, and there are plenty of buyers in the pipeline ready to enter the market…Further gains in sales are likely for the remainder of the year, with mortgage rates hovering around 3% and with continued job recovery.”
Zillow
“Zillow’s predictions for seasonally adjusted home prices and pending sales are more optimistic than previous forecasts because sales and prices have stayed strong through the summer months amid increasingly short inventory and high demand.
The pandemic also pushed the buying season further back in the year, adding to recent sales. Future sources of uncertainty including lapsed fiscal relief, the long-term fate of policies supporting the rental and mortgage market, and virus-specific factors, were incorporated into this outlook.”
In closing, we look at ProAthlete receiving the Mr. K Award given annually to the chamber's small business of the year. Startland News Reports provided this update.
